5 Health Care Stocks Triggering 'Buys' This Week

Baxter International

First up is medical supply maker Baxter International (BAX). Baxter saw strong performance over the last year, climbing more than 19% on the heels of solid fundamental performance -- but the setup in shares is pointing to more upside in 2013.

That's because Baxter is currently forming an ascending triangle, a price pattern that's formed by a horizontal resistance level above shares and uptrending support below them. In short, as this stock bounces in between those two technical levels, it's getting squeezed closer and closer to a breakout above resistance. When that happens, we've got a buying opportunity in this stock.

Resistance at $69 has been in place since the end of November, and BAX has hit its head on that price level every time it's tested it. A move through resistance means that buyers are definitively in control of shares. But don't buy until the breakout happens. Then, I'd recommend putting in a protective stop at the 50-day moving average - it's been a good proxy for support in 2013.

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